Healthcare Edition July 2022

Almost a decade ago, the US healthcare system was disrupted and broken. Despite a series of actions by the US government and its new policies, the healthcare system in the country has still not improved. Among the current challenges within the US Health Care delivery model (HCDM) are a single technology platform with the ability to transcend the combined storage and transmittal of medical data, physicians’ diagnosis notes, lab results, 2nd opinion, and intra/external network patient referrals that is immediate and available to patients, medical providers, and administrators while being secure, universal, and easy to use.

Clinical business operations are responsible for critical clinical trial functions such as study planning and budgeting, outsourced services RFP generation, bid due to diligence, change order management, post-award contract budget and activity management (“Earned Value Analyses”), as well as vendor performance management and oversight. Over $64B of services are awarded annually and conventionally managed via manual, disconnected processes, unstandardized bid grids, and aged point solutions.

In order to thrive in this digital world, healthcare practitioners must provide convenience with state-of-the-art care. When delivery of care is inadequately coordinated, the patient-provider relationship can suffer, leading to a poor healthcare experience. A survey has found that the lack of a simplified way to access health can complicate matters of care delivery.

Today’s healthcare industry is navigating multiple crises – the effects of not-so-new workforce trends that were dangerously exacerbated by the pandemic. Chief among those challenges: skyrocketing costs driven by huge increases in premium labor with no end in sight.

Companies today are disillusioned by their experience with a conventional volume-based PBM arrangement. Their pharmacy costs have risen, yet their population isn’t healthier. They’ve received rebates, yet they haven’t saved money.

The lack of transparency in healthcare is by far the greatest challenge in the U.S. today. Every day, average American citizens are experiencing the burden of cost in an opaque market. The average healthcare spend per person is more than $12,000, a majority of disposable income. According to 2021 statistics, nearly 65% of personal bankruptcies are caused by medical debt.

Accurate information on patients is a must-have for all of healthcare’s stakeholders. It is essential to have a way to securely authenticate patients, match, and link disparate patient records, and enhance patient profiles with up-to-date and more accurate information, while mitigating cyber threats. These industry needs drive the core of The Health Care business of LexisNexis® Risk Solutions.

Today customers encounter complex regulations, rising wages, staff turnover, and an overall increase in the price of goods and services. Washington-based Office Ally addresses these challenges by ensuring they offer the best value at an affordable price.